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About Car Loan

A car loan is a great way to drive your dream car without making the complete payment upfront. You don’t need to wait for some more months or years to buy your dream car as you can take a car loan to meet your fund requirement. Apply Car Loan Online at LoanBaazar and make your dreams come true

A car is no longer a luxury, but a necessity in today’s fast-paced world. However, buying a car requires a significant investment, which may not be possible for everyone. This is where car loans come in handy. Car loans provide a convenient way to finance the purchase of a vehicle, making it accessible to a wider audience

There are two types of car loans available in India: secured and unsecured. A secured car loan is backed by collateral, which is usually the car being purchased. In case of default, the lender has the right to seize the car and sell it to recover the outstanding amount. An unsecured car loan, on the other hand, does not require any collateral, but the interest rates are usually higher than secured loans.

“Drive your dream car home with ease – Apply for a car loan today!”

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New Car Loan

LoanBaazar.com offers new car loan at fair interest rates and adjustable repayment terms.Fast sanction, personalised service and absolute transparency in new car loans.

Loan against old Car

LoanBaazar.com offers loan against your old car at fair interest rates and adjustable repayment terms. Fast sanction, personalised service and absolute transparency in car loans.

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Features of Car Loan

Car Loan – With interest rates as low as 8.55% p.a. and a repayment tenure of up to 8 years, you can find the most suitable car loan for your needs at Loanbaazar. You can take the loan for 90% to 100% of the on-road price of the car.

Secured Loan

Car loans are secured loans, which means that the car itself serves as collateral for the loan. If you default on the loan, the lender has the right to repossess the car to recover the amount of the loan.

Fixed Interest Rates

Most car loans come with fixed interest rates, which means that the interest rate on the loan remains the same throughout the term of the loan. This makes it easier for borrowers to budget for their monthly payments.

Prepayment Options

Many car loans come with prepayment options, which allow borrowers to pay off the loan early without penalty. This can save borrowers money on interest charges.

Flexible Loan Terms

Car loans typically come with flexible loan terms, ranging from two to seven years. Longer loan terms typically result in lower monthly payments, but also result in higher overall interest charges.

Car Loan - Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.


The borrower should be at least 18 years old and not more than 65 years old.


The borrower should have a stable income and should be able to repay the loan. Minimum net monthly income of Rs. 20,000

Credit Rating

Applicant should have the bank specified credit score. A good credit score is essential to get a car loan at a lower interest rate. The minimum credit score required is usually 650 or above.

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Yes, many car loans allow you to pay off the loan early without penalty. However, it’s important to check with your lender to see if there are any prepayment penalties.

The amount you can borrow with a car loan depends on your income, credit score, and the value of the car you want to purchase. Typically, lenders will lend up to 80-90% of the car’s value.

The interest rate on a car loan varies based on your credit score, income, and the age and condition of the car. Typically, the interest rate on a car loan is lower than the interest rate on a personal loan, because the car serves as collateral for the loan.

If you can’t make your car loan payments, the lender has the right to repossess the car. This can have a negative impact on your credit score, and you may still owe money on the loan if the sale of the car does not cover the outstanding balance.

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Now apply for a Car Loan online, All you need to do is provide your details below application form.

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